Norwich & Peterborough (N&P) mortgage application process

jonny2510

I'm interested if anyone has gone through the N&P application process (for a remortgage), and whether they could comment on how straight forward it is?

My broker can't offer one of their deals, which would save me approx £500 over the term of the mortgage.

Obviously it's better in my pocket than someone else's, I'm just wondering what they're like to deal with, and whether the process is straightforward to handle without a broker.

Also when I spoke to N&P last night (and they confirmed affordability), they stated the next stage is an interview, where they'll take a soft credit score, before it even gets to the application stage. Is this normal practice / anything to be concerned about)?

We're in a decent position, with good LTV if it makes a difference.

Dave_Ham

Similar post to what I just put on another thread about smaller organisations offering headline rates.

Incredibly slow and thorough, but if time is on your side deal wise then £500 is £500..

Good luck

Sandie11

Hi

I am dealing with them direct rather than a broker.

They are a little slow and initially require a lot of information, but other than that, no problems at all.

Go for it

jonny2510

Thanks for the replies.

After the 'pre' interview, they did say the next process (appointment) to decide whether I could then move on to the application process would take 60-90 minutes :eek:

After some further consideration, it looks to be a saving of only £135 over the 5 years vs the broker option, which I'm currently leaning towards (just for the ease of letting someone else manage the process).

unmissable

I have been dealing with them directly and have had no problems at all. They insisted on original documents (Pay Statements etc) being sent (after I had sent in photocopies) but aoart from that no issues. Speed was fine.

I am a fairly straight forward low LTV and good affordability case and my valuation / survey was without problems.

They do not work through brokers but their low fees are very attractive alongside a low interest rate.

bugbyte_2

Same here, I started the process with them a week ago for the 5 yr fix @ 2.74.

Last Wednesday they held a 2 hr interview by phone with my wife; Friday a pack turned up requesting information (3 x pay slips, Current statement of mortgage account and pension projections); Monday got a call saying they had received it and Tuesday got the docs back. Very efficient and quick.

Although my loan to value is about 25% and my affordability is less than a third required, the offer was nearly scuppered by my remark that I intend to retire at 55 (term is past that but intend to massively overpay to 1/2 it) and the fact I give a fair bit to charity.

They are really rigorous and will only lend to 'prime'.

Good luck!

jonny2510

Have any of you n&p'ers made it through to the other side yet (i.e. remortgaged)?

How's it all gone so far?

Also, does anyone know if n&p allows you to view your mortgage balance online?

andyroberts1967

I've just started the N&P process, I had the initial pre-interview this afternoon, and the main telephone interview is in a couple of weeks. They do seem very thorough, but comprehensive, I like that! I asked if there is online access but apparently not. It's a small price to pay, and if like me, you like to know how your balance is reducing, you can always ring up each month to get a balance over the phone, plus they will send out an annual statement, so you know that you're on track.

jonny2510

Yes, I only discovered the lack of online access AFTER applying.

I thought online access was a given for any mortgage(!) though I've only had mortgages with the big lenders to date, though like you said it's a small price to pay with the savings on offer.

I'm due to complete next week, so fingers crossed!

EDIT: Yes they seemed very thorough. A 20-30 minute pre-interview, followed by a 60-90 minute phone application.

However they've been very approachable throughout the process to date, and a pleasure to deal with. It's nice to call a number to speak to someone, and have a branch manager pick up the phone, and deal with your query!

jstallan

I too applied and the phone application took around 2hrs. Thorough is putting it lightly and I felt like a first time buyer again. About half way through I was starting to panic even low we are 30% LTV and can easily afford the repayments.

It was confirmed we were accepted and now awaiting the paperwork.

Goodbye Nat West